29 May '15, 5pm

Bitcoin's tech is entering the major leagues

Garzik, who now works full-time at Dunvegan Space Systems , predicted the myriad applications of the blockchain will eventually help form the infrastructure for a spate of new technologies, much like Transmission Control Protocol/Internet Protocol (TCP/IP)—the basic communication language of the Internet—does now. "You don't have a conversation today about TCP/IP: This is the lowest layer of a money network," he said. "You're not going to say 'Let's adopt bitcoin,' you're going to say 'Let's use this money layer infrastructure.' You'll talk about the money web, or something of that nature, you won't talk about the blockchain itself." Will bitcoin survive? It's a common refrain among a portion of the business community that they love blockchain, but not bitcoin—implying the notoriously volatile currency is an unsound investment at the same time its technology could change t...

Full article: http://www.cnbc.com/id/102707183

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